Common scams targeting LuxWorld - how to identify and protect your assets
There are a few different types of scam currently circulating and we thought it sensible to address these and reveal the types of interactions you may come across with our project in an attempt to protect you from being taken advantage of. Currently, there are 3 main forms to be aware of:
- a direct message from someone claiming to be the Admin/Founder of LuxWorld through Telegram or Discord,
- If you are added to the Telegram group of LuxWorld and are asked to buy $LUX at a low price
- And if you receive news painting LuxWorld as a scam then the target in this case likely is our company as we have received messages i will show you later that these negative accusations will stop should we pay the accuser money.
LuxWorld is still working to prevent these actions and protect users. However, with the risks of decentralization of cryptocurrency, and the increasing sphistication of scammers, you should take steps to be able to recognize and prevent these actions.
Fake LuxWorld Twitter & Telegram Account.
Creating a fake account is the simplest and easiest way to steal someone’s money and personal information. New users exposed to official sources from LuxWorld must be cautious, and scammers on these platforms are more dangerous.
The scammers use two main strategies with this method, creating fake LuxWorld accounts and actively send messages to those who win from LuxWorld’s Giveaways, activities, and events and request access to an unclear link to receive the prize. clicking on the links either of these provide can end up in the theft of your personal information and the seizing of control of your crypto wallet, and you risk losing your digital assets.
How to avoid Fake LuxWorld Twitter & Telegram Accounts
All of LuxWorld’s official channels will be constantly updated at https://linktr.ee/lux.world. Suppose you are added to a group named “LuxWorld” or receive a message from a Twitter account without a verified badge. In that case, it is best to leave immediately and not provide any information. You should also update the security on your Telegram account to avoid being added to fake groups.
Scammers Faking LuxWorld’s Admin, Supporter, or Moderator
This part is similar to part one. However, instead of fake the project, the scammers impersonate the main admin/founder of the project. Their scheme will send direct messages to users, call for investment into the fund, and sell $LUX at a lower market price…
Additionally, they may impersonate supporters and moderators of LuxWorld to ask for help . They then will request sensitive information such as account information, your private key, or seed phase… to gain control of your wallet (or account).
How to avoid Scammers faking LuxWorld’s Admin/Moderator?
Currently, the admin of LuxWorld in each platform will never direct message first, no matter the reason. The best way is to create a ticket on Discord and DM our admin on Telegram. You can also DM the official Twitter account and drop the project team an email via: firstname.lastname@example.org or email@example.com
Corrupt (Phishing) URL & Contribution Address Scams
Phishing scams or corrupt URLs are also common actions of scams. Phishing scammers will create fake accounts that look like LuxWorld or the LuxWorld development team. After clicking on the link, they may ask you to provide information related to account security, a wallet to receive a reward, buy $LUX presale, or any other benefits (as mentioned in previous sections).
Furthermore, scammers also have another trick: providing a false contribution address. We have detected many fake sites during our Presale phase. When victims make transactions, deposits, or transfers to these addresses, they will lose all the transaction money.
How to Avoid Corrupt (Phishing) URL & Contribution Address Scams
If you suddenly receive a link related to LuxWorld, be cautious and do not click. Only buy, sell, or transfer $LUX with safe addresses.
LuxWorld has completed the presale phase and is only traded on the Bitmart exchange. All calls to buy $LUX presale are fake, and information about the following listing on trading platforms will be updated on LuxWorld’s official social media channels (if any).
Scam Accusations to Manipulate Prices & Extort Money
On the first days of being listed on BitMart, LuxWorld faced many accusations related to Founder, Investment Funds, and Audit activities. They posted all allegations to all platforms (CoinMarketCap, Twitter, Reddit, Website, Youtube).
However, after investigation, these are false accusations with no basis, made to extort money. They then demanded 6.5 ETH (worth $10,000 at the time of writing) in donations to remove all negative information about LuxWorld created by them. We are confident that this is not the first time they have carried out such an act, and their main targets are new projects that are quickly impacted by the news. It is also an method of manipulating tokens price, and buying $LUX cheaply.
How to Avoid Scam Accusations
You should also seek news from reputable sources or the project’s official channels. then look at the project and their track record of doing what they say and are they following their own roadmap.
Verification Code Scams
Verification Code Scams are the next step of Phishing Scams to counteract the use of 2FA security. After tricking you into accessing a corrupt URL, you will be directed to a fake website and asked to provide information. This form takes any login information, valid or invalid, and inputs it into the web, resulting in the victim receiving a 2FA code. The fake website then requests this code to access the victim’s account.
At this point, LuxWorld has not yet dealt with Verification Code Scammers, but after launching the app, this scam is certain to occur, and LuxWorld does not want you to be a victim.
How to avoid Verification Code Scams
Like how to deal with Phishing Scams, you must not access suspicious or dubious links. In addition, LuxWorld or any other exchange will never request a 2FA/Verification Code. Therefore, do not provide this code to anyone.
If you see any suspicious cases, please contact us immediately via email: firstname.lastname@example.org, Telegram, or create a ticket on Discord for support.
Telegram Luxworld Official: https://t.me/coincuofficial
Telegram Luxworld Community: https://t.me/luxworldcommunity
Facebook Page: https://www.facebook.com/luxworld.official
Youtube Channel: https://www.youtube.com/channel/UCE1pG6PHqHRyO27SEETWXng
Luxworld whitepaper : https://whitepaper.lux.world/